Salesforce, Inc. (NYSE:CRM) Shares Sold by Tradition Wealth Management LLC

Tradition Wealth Management LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 9.5% in the third quarter, HoldingsChannel reports. The firm owned 1,396 shares of the CRM provider’s stock after selling 147 shares during the quarter. Tradition Wealth Management LLC’s holdings in Salesforce were worth $382,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRM. Veritas Asset Management LLP acquired a new position in shares of Salesforce in the third quarter worth $733,805,000. Massachusetts Financial Services Co. MA grew its stake in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after purchasing an additional 1,139,472 shares during the period. KBC Group NV raised its position in Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its stake in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent research reports. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Salesforce Stock Performance

CRM opened at $329.99 on Monday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The stock has a market cap of $315.47 billion, a P/E ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. The stock’s 50 day simple moving average is $302.12 and its 200 day simple moving average is $270.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Salesforce Profile

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.